Cryptocurrency Trading Platform HAYVN raises Series A

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Abu Dhabi-based FinTech and digital currency trading platform HAYVN, has successfully raised an undisclosed amount in a Series A funding round led by Red Acre Ventures and Hilbert Group

Founded in 2018 by Christopher Flinos and Ahmed Ismail, HAYVN is an institutional digital currency platform that provides secure OTC trading and custody capabilities, enabling customers to trade digital currencies.

As recorded in our Q3 2021 EVM FinTech Venture Investment Report it seems that FinTech ecosystems in Emerging Venture Markets have been attempting on disrupting the banking sector, as well as pushing for the new age of financing and revenue generation. This year, 71 transactions in FinTech and 67 in E-commerce startups across MENA by October marked a steady 15% and 12% YoY growth for the two industries respectively. Since October, we have been observing ample Investor openness for futuristic technologies across both sectors, where funding rounds in Crypto were closed by CoinMENA and BitOasis, investments in open banking were highlighted in Tarabut Gateway’s $12M Pre-Series A and FinTech Galaxy's $2M SEED. This outlook for the future of Tech is surely represented in VC investments across MENA, where even earlier today the XR (Extended Reality) startup HyperSpace has announced its $11M SEED round to create Blockchain-powered technologies building physical spaces with metaverse (digital & AR) integrations.While we can spot a difference in maturity and investor focus between ecosystems in EVMs, where the median size of SEED rounds was highest in nascent FinTech ecosystems like Pakistan ($2M), foresight towards the future and investment in next-gen technologies has been a common feat across the board. 


 


The HAYVN platform is built on unprecedented levels of transparency, regulatory compliance, and security, with a leading OTC desk and a regulated custody offering allowing their clients to buy, sell, and custody large amounts of digital currency both easily and securely. “We are building HAYVN into the largest institutional digital currency platform globally and we are continuing to strive to be just that, the closing of our Series A funding is another milestone in our journey,” says Christopher Flinos, co-founder and Chief Executive Officer at HAYVN. “With the closing of our Series A funding, we are able to continue to improve on our core products and expand our offerings beyond OTC trading and custody. Leveraging off the Asset Management strength of our new shareholder Hilbert Group, we will shortly begin providing our clients with secure access to digital currency through a series of bespoke, diversified investment products. The HAYVN Payments ecosystem is also a priority for the business,” he added.  

As part of the transaction, Red Acre Ventures has joined the HAYVN Board of Directors. With a strong technology background, Red Acre Ventures will allow HAYVN to deliver enhanced technology solutions for its product offerings Christopher Flinos stated that this round of funding will help the organization enhance its strategic journey to become a leading global institutional digital currencies platform, instil trust within the digital asset world, and focus on strategic hires within the organization.


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